$cbETH is a wrapped token issued by Coinbase on the Ethereum blockchain for $ETH stakers.

Coinbase is supporting liquid staking for its $ETH stakers with Coinbase Wrapped Staked ETH ($cbETH), where the staked asset is Ether ($ETH), and the staking provider and token issuer is Coinbase. The Coinbase team hopes that $cbETH will achieve robust adoption for trade, transfer, and use in DeFi applications. With $cbETH, Coinbase aims to contribute to the broader crypto ecosystem through creating high-utility wrapped tokens and open sourcing smart contracts.